ASEAN is irreplaceable

In an interview after his visit to Thailand, Singaporean Foreign Minister Vivian Balakrishnan said that although some Southeast Asian countries have expressed interest in joining the BRICS bloc, ASEAN is irreplaceable.

Singaporean Foreign Minister Vivian Balakrishnan (left) meets with Thai Deputy Prime Minister Anutin Charnvirakul in Bangkok on June 26. (Source: Singapore Ministry of Foreign Affairs)

He stressed that ASEAN is a region of 680 million people, with a GDP of about 3.5 trillion USD and could double or quadruple in the next 2 to 3 decades.

In early June, Thailand and Malaysia revealed plans to join BRICS, a group of emerging economies led by Brazil, Russia, India, China and South Africa. Myanmar and Laos had previously expressed interest in joining the bloc.

Mr Balakrishnan noted that ASEAN has signed trade agreements with countries such as China, South Korea and Japan. Member countries also have binding relationships such as the Digital Economic Partnership Agreement established by Singapore, Chile and New Zealand.

The Singaporean foreign minister added that efforts by ASEAN countries to expand their markets and access partners do not hinder the overall development of the bloc and bilateral economic relations. As long as the measures promote a level playing field and increase the attractiveness of investment and trade to member countries, Singapore supports all these moves.

Mr. Balakrishnan is on an official visit to Thailand at the invitation of his Thai counterpart Maris Sangiampongsa. On June 26, he delivered the opening speech at the Thailand-Singapore Official Exchange Program. The program, established in 1997, brings together civil servants from both countries to share ideas and experiences in areas such as health, leadership development, and education .

In his speech, Mr. Balakrishnan said the global economic model was under pressure as the world fractured due to conflicts in Ukraine and Gaza, as well as maritime tensions in the Pacific and the South China Sea.

In the current global situation, old formulas for growth and economic cooperation will be difficult to meet. Bilaterally, Singapore and Thailand need to align their goals in the new landscape, seeking opportunities in areas such as the digital space and sustainable economics.

Source: https://baoquocte.vn/ngoai-truong-ng-singapore-asean-la-khong-the-thay-the-276525.html